bitcoin-dev

hashcash-newhash

hashcash-newhash

Original Postby ZmnSCPxj

Posted on: May 27, 2020 04:47 UTC

The integrity of the transaction log in cryptocurrency is at risk due to the centralization of hashrate by two entities, which would compromise the entire blockchain if hacked.

The hash function used in various aspects of cryptocurrency, such as proof-of-work, signature hash, P2SH/P2WSH/Taproot, and merkle tree, need to be changed in case of a cryptographic break of the SHA-2 function to prevent attacks. However, changing the proof-of-work function is the lowest priority, and pursuing it may be a waste of time. Ultimately, the real world decides, and implementation trumps discussion.